Part 1/5:

The Automotive Industry in Crisis

Profits Plummet Across the Board

The entire auto industry appears to be on the verge of collapse. Major automakers are reporting significant declines in profits and sales, with Toyota, Nissan, Honda, Mazda, Jaguar Land Rover, and even BMW all struggling.

Nissan is in "emergency mode", cutting 9,000 jobs and reducing production as it faces a dire situation. CEO Makota Uchida has had to partially revise the company's ambitious growth plans, admitting they have "no choice" but to make these drastic cuts.

Toyota has seen its net profit drop 26% in the first half of the fiscal year, with sales lagging in China, Thailand, and Indonesia. The strong Japanese yen and lack of production on key models like the Highlander have also hurt the company.